Fuzzy Monkey Technologies purchased as a long-term investment $80 million of 8% quoted bonds, dated January1, on January

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answerhappygod
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Fuzzy Monkey Technologies purchased as a long-term investment $80 million of 8% quoted bonds, dated January1, on January

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Fuzzy Monkey Technologies purchased as a long-term investment $80 million of 8% quoted bonds, dated January1, on January 1, 2022. Management has the business model of holding to collect contractual cash flows. For bondsof similar risk and maturity the market yield was 10%. The price paid for the bonds was $66 million. Interest is receivedsemiannually on June 30 and December 31. Due to changing market conditions, the fair value of
the bonds atDecember 31, 2022, was $70
million.
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